RI`s economy grew 5.02 percent in 2014

Jakarta (ANTARA News) – The Indonesian economy grew at a slower pace at 5.02 percent in 2014, according to the Central Statistics Agency (BPS).

“The economic growth has shown a downward trend since 2010. It fell to 5.58 percent in 2013 from 6.38 percent in 2010,” BPS Chief Suryamin said here on Thursday.

One of the sectors that contributed the most to the gross domestic product (GDP) in 2014 was the manufacturing industry, he added.

For all of 2014, the manufacturing industry grew 4.63 percent, contributing 21.02 percent to the GDP, he noted.

Other sectors that made significant contributions were wholesale and retail trade and car and motorcycle repair, which expanded 4.84 percent. The forestry and fisheries industries, which grew 4.18 percent, contributed 13.38 percent each to the GDP, he explained.

“Sectors such as construction, mining, transportation, corporate service, electricity and gas procurement, health service, and water procurement also contributed to the GDP, although their shares are not high,” he said.

The consumption expenditure of non-profit household institutions, which grew 12.43 percent, contributed the most to the GDP in 2014. This was followed by household spending, which grew 5.14 percent, gross fixed capital formation that grew 4.12 percent, government consumption that grew 1.98 percent, exports (1.02 percent), and imports (2.19 percent), he remarked.

“The consumption expenditure of non-profit household institutions contributed the most to the GDP due to general elections. Household consumption was relatively stable, although fuel price and population increased,” he pointed out.

So, household consumption made the largest contribution to the GDP at 56.07 percent, followed by gross fixed capital formation at 32.57 percent, exports at 23.72 percent, government consumption at 9.54 percent, non-profit household institution at 1.18 percent, and imports at 24.77 percent.